Full text of U.S. Financial Data : May 15, 1986

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Federal Reserve Bank

^Q.Sr-Eihancial Data
MAY 1 9 198ff

May 15, 1986

In the past, commercial banks have been major suppliers of short-term credit
to nonfinancial firms. In recent years, however, these firms have increasingly
sought short-term credit by direct application to the commercial paper market.
For example, from January through April of 1985, the outstanding commercial
paper of nonfinancial companies averaged about 28 percent of the business loans
of large weekly reporting commercial banks. This percentage increased to about
32 percent during the same period in 1986.
Nonfinancial company commercial paper is a short-term, negotiable, unsecured
promissary note with an original maturity of 270 days or less. Due to the
increasing importance of this source of short-term business credit, weekly data
on the commercial paper of nonfinancial companies will be published regularly
on page 11 of this release. Since these data are not seasonally adjusted, care
should be exercised when interpreting weekly changes in the series. These data
are best used to indicate the long-run trend in the quantity of nonfinancial
commercial paper outstanding.
—G. J. Santoni

THK
FEDERAL
A RESERVE
XltANKnt

nr »r. mris

expressed do not necessarily reflect official positions of the Federal Reserve System.
Digitized forviews
FRASER
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
24* ---------- 1---------- 1--------

1M

BILLIONS OF DOLLARS

BILLIONS
238.4
238.8
239.2
240.0
239.6
241.9

I I II
13 27

MAR

10 24

APR

8 22

3 10

MAY

3 17 31

14 28

JUL
AUG
1985

11

25

SEP

0 23

OCT

0 20

4 18

NOV

DEC

LATEST PLOTTED RESERVE MAINTENANCE PERIOD END INO, MAY 7,

I

15 20 12

JAN

FEB

MAR
1986

APR

MAY

1966

THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
RESERVE BANKS. CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF ALL
DEPOSITORY INSTITUTIONS) AM) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES.
THE MAJOR
SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL. RESERVE CREDIT.
DATA ARE COMPUTED BY THIS
BANK. A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS END INGt
5/8/85

8/14/65

10/9/85

11/6/85

12/4/65

6.8
7.7
7.6
7.0
7.8
7.5
7.4

8. 1
7.7
6.9
8.0
7.6
7.5

8.7
7.2
8.4
7.9
7.7

5.9
7.8
7.3
7.2

1/1/86

2/12/66

5/12/66

9. 1
8.3

6.1

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING*
10/ 9/85
11/ 6/85
12/ 4/85
1/ 1/86
2/12/66
5/12/06
4/ 9/86
5/ 7/86


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

8.9
8.4
8.7
8.5
8.0
8.4
8.2
8. 1

8.2
7.5
7.3

PREPARED BY FEDERAL RESERVE BAM( OF ST. LOUIS

T---------- =■—*

MONEY STOCK (Ml)

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

MAR.

31

BILLIONS OF DOLLARS

140.3

650

640

630

620

590

4 li

I

15 29 13 27 10 *4

MAY

I 22

5 10

2 15 30 14 28 II 25

JUN

OCT

0

NOV

6 20

3 17

JAN

FEB

3 17 31

14 28 12 26

APR

MAY

LATEST DATA PLOTTED WEEK ENDING. MAY 5. 1966
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
S^pil.ifA^TSviiSSI^SE^0 BY THE

PUBUC' DEMAND DEP0S,TS* 0THER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
5/6/85

8/5/85

15. 1
13.5
13.6
13.4
11.6
11.7
12. 1
12.2

11.8
12.5
12.4
9.9
10.2
11.0
11.3

AVERAGE OF FOUR WEEKS ENDING;

10/7/85

11/4/85

12/2/85

9.6
10.5
7.2
8.2
9.6
10.2

13.2
8.0
9.0
10.5
1 1.0

5. 1
7.3
9.6
0.4

1/6/86

2/3/86

3/3/86

14.2
14.2

15.0

TO THE AVERAGE

weeks

10/ 7/B5
ra
11/ 4/85
12/
1/
2/
3/
4/
5/

2/85
6/86
3/86
3/86
7/86
5/86


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

4.4
8.7
9.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

1986

RATIO

FEB.
MAR.

24
10

APR.

7
21
5

24

MAY

II 28

8 22

2.653
2.659
2.672
2.680
2.686
2.694

Ml MULTIPLIER

9 17
JUN

6 20
MAY

I 18 29 12 26

9 29

7 21
OCT

4 18
NOV

2 16 90 19 27 10 24 10 24
JAN
FEB

7 21
APR

S 19
MAY

LATEST DATA PLOTTED TWO WEEKS ENDING* MAY 5, 1986
BILLIONS OF DOLLARS
178
1
1
178

BILLIONS OF DOLLARS
178

1

-

“ COMPOUNDED ANNUAL R/ TES
—OF CHANGE, AVERAGE
THE FOUR *EEKS END 1 JG
“ MAY 5. 1986 FROM

174

174
172
170

176

•

MAR.
FEB.
— JAN.
_ DEC.
NOV.
— AU e.
_ MA Y

3,
3,
6,
2,
4,
5,
6,

1986
1986
1986
1985
1985
1963
1985

6.2
5. £
7.
6.6
6.£
7.^
7.1

-

172
CURREN CY

170
168

168
-

-

-

-

166

166
164

1m

164

BILLIONS

-

-

^—’

14
173.8
_
21
174.6
28
175.1
—
MAN
5
175.4
1 II 1 1 1 1 1 1 1 1 1*
-LLL

162
160

Illl
4 18
MAR

„

111
111
1111
l.l l_l_ ■u.i. -LLL 1111 -LLL 1 1 1 1
I 15 29 19 27 10 24 8 22 9 19 2 16 90 14 28 II 25 9 :
SEP
OCT
NOV
DEC
APR
MAY
JUN
JUL
AUG
1985

-LLL
8
JAN

X# :

3!

MAR
1986

m

APR

-

MAY

LATEST DATA PLOTTED WEEK ENDING* MAY 5, 1986
1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

162
160

**—:—;—"V

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

BILLIONS

467.3

450

430

420

410

4 IS

1

IS 20 IS 27

MAY

10 24

S 22

5 10

2 IS SO 14 28 II

JUN

OCT

25

0 25

NOV

S 20

9 17

JAN

FEB

1085

9 17 91

14 28 12 20

1986

LATEST DATA PLOTTED WEEK END IN01 MAY 5, 1086
TOTAL |^HECKA^E|DEPOSITS IS THE SUM OF DEMAND DEPOSITS AM) OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*
5/6/85

8/5/85

17.7
15.3
15.7
15.5
12.9
13.0
13.6
14.0

13.3
14.3
14.4
10.6
11.2
12.3
12.8

10/7/85

11/4/85

12/2/85

10.4
1 1 .0
6.9
8.4
10.3
11.3

15.9
8.1
9.6
11.7
12.6

4.0
7.2
10.3
11.7

1/0/86

2/3/86

2.9
8.8
10.9

17.1
17.4

0 THE AVERAGE
IF FOUR WEEKS
iNDINGi
10/
11/
12/
1/
2/
3/
4/
5/

7/85
4/85
2/85
6/86
3/86
3/86
7/86
5/86


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

percent

CORP<
AAA bi

PRIME
LOAN RATE

I

15 20

MAR

12 26

APR

10 24

7 21

5 10

MAY

JUN

JUL
AUG
1985

2 16 30 13 27 11

SEP

25

OCT

8 22

NOV

6 20

DEC

3 17 31

JAN

14 28 14 28 II

FEB

MAR
1986

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt MAY 16.

1986
MAR.

APR.

MAY

7
M
21
28
4
1 1
18
25
2
9
16 X
23
30

90 DAY
CD'S

30-DAY
COMMERC1AL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Am BONDS

7.46
7. 19
7. 17
7.16
7.02
6.62
6.44
6.47
6.56
6.53
6.62

7.52
7.20
7.22
7.25
7.22
6.83
6.57
6.57
6.67
6.66
6.71

7.29
7.08
7.05
7.03
6.82
6.48
6.32
6.47
6.47
6.41
6.53

9.08
8.98
9.03
8.94
8.74
8.75
8.66
8.90
8.97
8.98
9. 10

CORPORATE
BM BONDS
10.59
10.50
10.50
10.42
10.28
10.24
10. 13
10. 13
10.20
10. 16
10.24

25

APR

0 23

MAY

1986.

MUNICIPAL
BONDS *x
6.88
6.89
7.34
7.21
7. 15
7.25
7. 16
7.22
7.33
7.36
N.A.

NOTEt CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
9K AVERAGES OF RATES AVAILABLE
** BOND BUYER'S AVERAGE IM)EX OF 20 MUNICIPAL BOMJS, THURSDAY DATA
N.A. - NOT AVAILABLE


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

PERCENT

PERCENT
—

5-YEAR
TREASURY SECURITIES

DISCOUNT RATE

3-MONTH
TREASURY BILL

I I II
I

15 20 12 26 10 24

7 21

5 10

JUN

JUL

2 16 50 13 27 II

SEP

25

8 22

6 20

5 17 31

OCT

14 28 14 28 I I

25

MAR

APR

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY IB.

IB86.

1966
MAR,

APR.

MAY

7
14
21
28
4
1 1
18
25
2
9
16 *
23
30

FEB

0 23

FEDERAL
FUNDS Ktt

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL 916168

l-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

7.89
7.52
7.47
7.25
7.39
7.05
6.97
6.92
6.88
6.87
6.82

6,79
6.59
6.49
6.39
6.31
6.07
5.84
6.03
6. 1 1
6.05
6. 10

6.87
6.54
6.55
6.43
6.32
6. 17
5.93
5.87
6.14
6.09
6. 10

6.76
6.59
6.57
6.46
6.27
6.03
5.85
6.08
6. 17
6. 10
6.19

7.66
7.40
7.46
7.36
7.22
7.04
6.80
7. 10
7.21
7. 19
7.44

8.35
8. 17
8.20
8.01
7.66
7.62
7.42
7.70
7.81
7.80
8.03

.

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE EXCLUDING LONG-TERM TREASURY
X AVERaHsUOFTRATESHAVAILABLE0WPUTED BY THIS BAM<'
TREASURY bill YiELDS ARE ON A DISCOUNT BASIS


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Ml* ™ D*YS EAHUER THAN DATE «*•

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

12.0

8

COMMERCIAL BANK
SMALL TIME DEPOSITS^
LARGE TIME DEPOSITS*/
BILLIONS OF DOLLARS
415 ---------- 1------------- 1-----1986

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

ILL IONS OF DOLLARS

BILLIONS

SMALL TIME DEPOSITS

LATEST DATA PLOTTED WEEK ENDING* MAY 5,

1986

BILLIONS OF DOLLARS

1M

BILLIONS OF DOLLARS
205

BILLIONS
290

265
LARGE TIME DEPOSITS

275

265

4 18

1

15 20 IS 27 10 24
MAY
JUN

6 22

8 19

2 16 90 14 28 II 25
OCT
NOV

0 29

6 20

9 17

9 17 91

14 28 12 26
APR
MAY

LATEST DATA PLOTTED WEEK ENDING* MAY 5, 1986
1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

801 .4
802.3

797.8

4 18

I

MAR

APR

15 29 19 27

MAY

10 24

JUN

8 22

JUL

5 19

AUG
1985

2 18 90 14 28 II 25

SEP

OCT

NOV

9 29

DEC

8 20

9 17

9 17 91

JAN

FEB

MAR
1988

14 28 12 26

APR

MAY

LATEST DATA PLOTTED WEEK ENDING: MAY 5. 1986
TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIM

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
5/6/65

8/5/85

10/7/85

4.0
4.5
5.4
7.8
7.1
5.6
4.8

4.5
8.0
9.6
8.2
6.1
4.9

11/4/85

12/2/85

1/6/86

2/3/86

3/3/86

11.8
6.1
4.0

-0.2
-0.9

-2.4

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
10/
11/
12/
1/
2/
3/
4/
5/

7/85
4/85
2/85
6/86
3/86
3/86
7/86
5/86

-0.5
0.1
0.8
1.9
3.8
3.7
3.0
2.6


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

7.3
11.6
9.4
6.6
5.2

14.3
10.5
6.8
5.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

6.0

BILLIONS OF DOLLARS

---------- ---9

952

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt MAY 14. 1986
BILLIONS OF DOLLARS
1986

BILLIONS OF DOLLARS

MILLIONS

ADJUSTMENT + SEASONAL
BORROWINGS

6 20
MAR

9 17
APR

I 19 29 12 20 10 24

7 21
AUG

4 18
SEP

2 18 90 19 27 11 25
NOV
DEC

8 22

5 18
FEB

5 19
MAR

2 18 90 14 28

LATEST DATA PLOTTED WEEK ENDINGt MAY 14, 1986
1/ 83.767 FOR 11/27/85


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
1086
APR.

BILLIONS OF DOLLARS
90

MILLIONS
2

Ol,uoo
80,192
78,520
81,715

6 20
MAR

3 17
APR

I

19 29 12 26 10 24

7 21

4 18

LATEST DATA PLOTTED WEEK ENDING: MAY 7,

2 16 30 13 27 II
NOV
DEC

8 22

S 10

9 10

2 16 90 14 28

1986

BUSINESS LOANS v
( COMMERCIAL AND INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
BILLIONS OF DOLLARS

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
h 0F CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
_ APRIL 30, 1986 FROM
THE FOUR WEEKS ENDING*
- MAR.
JAN.
_ JAN.
NOV.
OCT.
.

5,
29,
1,
27,
30,
31,
1,

1986
1986
1986
1985
1985
1985
1985

MAR. 26

APR.

259,361

2
258,677
261,800

INI
6 20

3 17

19 20 12 26 10 24

7 21
AUG

4 18
SEP

LATEST DATA PLOTTED WEEK ENDING: APRIL 30,
1/ BUSINESS LOANS INCLUDE BANKERS'

2 16 90 13 27 11 25
NOV
DEC

8 22

-LLLLJ-I 1.1.1 .1 I 1 I I
9 10
FEB

5 10
MAR

2 18 30 14 28

1986

ACCEPTANCES AND COMMERCIAL PAPER.

2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11